Note: I've made lots of mistakes in this series. But the links and documents are here if journalists wish to do due diligence. I can also help with contact info if you need it. You may e-mail me at RecycleBill@gmail.com
Update: Just to be clear, before you begin reading. Despite what the local media and some bloggers lead you to believe because they got their info from local media only, the community co-op never asked the City of Greensboro to give them the shopping center. The co-op was asking to buy the shopping center. It was developers who were wanting to be given the shopping center.
I found it interesting that in all the numbers being tossed around at Tuesday night's Greensboro City Council meeting that up until now no one on City Council, no one on city staff and no one from local media has bothered to tell us the whole story.
For starters, there are 3 groups that want the shopping center, not two. One is the community group, the Renaissance Community Co-op.
The second group, lead by Skip Alston and 2 foreign "investors" is The Renaissance Center of Greensboro, LLC. As pointed out by Councilman Zack Matheny, this is the 3rd name for Skip's group. Notice how Skip and company picked a name deliberately meant to confuse us into thinking his group represents the co-op and the community when in-fact nothing could be farther from the truth.. Do I need to tell you of the 20 plus years Skip Alston has spent raiding the public trusts as a politician and business owner? Do I need to remind you that Skip Alston is a former NAACP president for North Carolina? If so then you really are new to Greensboro.
Correction: I use the phrase foreign investors many times in this series. I have since learned that at least 1 of the investors is a US citizen but the names and backgrounds of several of the investors asking for public funds are as yet unknown two weeks after I requested them from the City of Greensboro.
Update: I might be confused about Skip Alston's previous position with thr NAACP but as you can see from his official bio from his time spent as a Guilford County Commissioner I wasn't that far off. And the Sit In Movement Inc that is mentioned there. Skip Alston is one of the owners and founders of the company that owns and operates the International Civil Rights Center and Museum. It was recently made known by the Rhino Times that while the International Civil Rights Center and Museum has long passed itself off to the public as a non profit of sorts taking in untold amounts in donations and taxpayer funding, it is in-fact registered as a for profit company.
The third group, New Bessemer Associates, LLC, is headed up by George Carr who I think just got in on the $80 Million Dollar South Elm Redevelopment Corporation deal with financing provided with help from (drumroll please) the City of Greensboro. Mr Carr, the owner of Beacon Management Corporation has made millions on the government dole as the builder and owner of:
"Our communities include conventional housing, mixed income and tax credit properties, substantially rehabilitated historic and non-historic properties and other affordable housing communities developed and assisted under a variety of city, state, and federal programs."
The first group, the community group, the Renaissance Community Co-op, is asking the City of Greensboro for a loan to be paid back in full plus interest over a period of 10 years. And when the loan is paid off-- the deed. That's right, a loan.
Skip Alston is asking that the City of Greensboro give his group over $1 Million Dollars in improvements, over a $million in loans plus the deed to the shopping center up front.
George Carr is asking that the City of Greensboro give his group over $1 Million Dollars in improvements, over a $million in loans plus the deed to the shopping center up front.
Actually they're not asking for the deed up front but they might as well be. Both developers want the right to be the leasing agents and operators of the entire shopping center meaning they will pocket the rents from every business that locates there. But with the City of Greensboro footing the bills why would anyone in his or her right minds give the profits away to any 3rd party? You see, both developers deals are asking that the City of Greensboro foot the bills.
So which is better? Which is more democratic? Which is the better deal for Greensboro taxpayers, a giveaway--corporate welfare-- to a development group, possibly a foreign owned investment group, or a loan to a local partnership, a co-op made up of working class people who live and work right here in Greensboro, North Carolina?
Now if I am wrong then why will no one from the City of Greensboro reply to my e-mail with a correction I can post below? Or do I need to start telling more?
Continue reading What The Media And The City Aren't Telling You About The Renaissance Community Co-op Part 2
